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18 Oct, 2017
There are some cash flow planning opportunities for foreign persons (Non-U.S. Persons) who maintain for the purpose of retirement the custodian of their ORS Hong Kong Government regulated, registered and Foreign Act Tax Compliance Act...
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03 Aug, 2017
Lack of efficient ways to receive financial information from foreign countries has been a serious obstacle to the government's desire to impose tax on residents' income received and stored abroad...
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30 Jun, 2017
On 20 June 2017, the Cyprus Tax Department published guidance notes in relation to Automatic Exchange of Financial Account Information (the Notes). The Notes provide up to date guidance on important issues related to the different reporting regimes...
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30 May, 2017
When it comes to trusts, New Zealand (NZ) and the United States of America (US) are remarkably similar, as they appear to be the only OECD countries, with recognizable "foreign trust" regimes...
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05 May, 2017
The world is finding its equilibrium - The beginning of a new era of lower taxation, deregulation and sensible compliance - global tax trends and the impact on small island nations...
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14 Feb, 2017
The US is the only developed country that taxes based on citizenship rather than residence. This means that if you are a US citizen, you are liable to report your worldwide income and pay US taxes on it, wherever in the world you live...
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10 Aug, 2015
All US citizens and green card holders have to submit an annual tax return to the IRS no matter where they live, and since the FATCA law was passed in 2010, US expats are also obliged to declare their foreign income and assets...
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08 Apr, 2015
The short and sweet answer to this is no. And why not? Because the origin of all of the terrible sins mentioned in the same breath as offshore structures lies not in the system, but in human nature itself, which has remained unchanged...
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14 Aug, 2014
Since his inauguration in January 2009, President Obama appears to have been on a mission to claw back billions of tax dollars he claims the US is losing each year. A progressive regime of new laws and policies has been introduced to attack US individuals and corporations seeking to (legally) limit their tax obligations through the use of overseas jurisdictions.
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22 Aug, 2013
Dennis Healy, when he was the UK Chancellor of the Exchequer, once said that the difference between tax avoidance and tax evasion is the thickness of a prison wall. What he meant was that there is a fine line between illegal tax evasion, and legal tax avoidance. Put another way, if someone gets married and the unplanned consequence is that tax is saved that is lucky. If that person gets married and the main reason is to save tax, it is tax avoidance. If that person tells the tax authorities that they are married when they are not in order to save tax it is tax evasion.
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